Prices and Choices Microeconomic Vignettes

by Hemenway, David

• ISBN13: 9780819189479
• ISBN10: 0819189472
• Edition: 3rd
• Format: Paperback
• Copyright: 1992-12-26
• Publisher: UPA

Summary

Prices and Choices is a collection of twenty-seven short, lively essays specifically designed to provide stimulating supplementary readings for introductory or intermediate microeconomic theory classes. Hemenway puts economic concepts to work, using tools of analysis that are well within the grasp of undergraduates. Students will have experience with, and ideas about, the topics and will therefore be able to enjoy Hemenway's entertaining discussions on economic theory; questions at the end of each chapter are included to promote active classroom discussion. Specific topics include: temptation, fashion, haggling, tipping, insurance, crime, quality, inspection, safety, health care, and the Bible.

Table of Contents

Preface
Basic Assumptions	p. 1
Aphorisms	p. 7
Temptation	p. 13
Options	p. 19
Fashion	p. 25
Social Forces	p. 39
Exchange and Pricing	p. 49
Gifts	p. 51
Haggling	p. 63
The Cover Charge	p. 71
Tipping	p. 77
Scalping	p. 85
Spillover Problems	p. 97
Insurance	p. 99
Crime	p. 113
Externalities	p. 121
Quality	p. 131
Quality Assessment	p. 133
Determinants of Quality	p. 147
Voluntary Standards	p. 157
Grades	p. 171
Monopoly	p. 177
Is Monopoly Bad?	p. 179
The Ice Trust	p. 189
Policy	p. 205
Food Supplements	p. 207
Risk Compensation	p. 213
Nervous Nellies	p. 221
Optimal Location	p. 227
The Economic Approach	p. 239
Injury Prevention	p. 241
Health Care	p. 249
The Bible	p. 259
Appendix: Payoff Matrices	p. 263
Glossary	p. 269
Name Index	p. 271
Subject Index	p. 277
About the Author	p. 281
Table of Contents provided by Blackwell. All Rights Reserved.